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7518 Plumaria Drive Fontana, CA 92336

3 Beds 3 Baths 1,617 sqft Built 1989

$479,000

List Price

$2,140

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1989
  • Price/Sqft : $296.23
  • 5 Days on Market
  • MLS # : IV20227403
  • Updated Date : 10/30/2020 at 13:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,617 sqft
  • Baths : 2 full , 1 half
Listing Agent

Redfin

Listing Agent's Description

Welcome to Rancho Fontana. This updated four bedroom home is ready for its new owners. Recessed lighting, vibrant custom paint and beautifully upgraded tile, wood and carpet flooring compliment the elegance of the bright and open floor plan. Enter into the spacious living and dining room with light catching windows, high ceilings and rich wood floors. The gourmet kitchen is well-appointed with gorgeous granite counters, solid wood cabinets, custom brick backsplash and a separate eating area with sliding glass doors to the backyard. The family room flows seamlessly from the kitchen and features a cozy fireplace and plenty of room to entertain. The first floor also features a powder room for guests. Up the staircase are the bedrooms, perfect for home office, gym, or sleeping areas. Also upstairs is the over-sized master bedroom with ceiling fan, spacious walk-in closet with built-ins storage and an en-suite bathroom with double sinks, glass-encased shower and separate soaking tub. The two upstairs secondary bedrooms offer ample closet space and share the full hall bathroom. Relax in the peaceful/private backyard with patio cover and plenty of gardening space, above ground spa and a private shed perfect for storage. Close to schools, shopping and freeway access. Tour this beautiful home today, it won't last.

SEE MORE

MARKET HIGHLIGHTS

  • Headquarters to several Fortune 500 companies: Amgen, Farmers Insurance, Walt Disney, Avery Dennison, Activision Blizzard, CBRE Group, Edison International, Molina Healthcare, First American Financial, Pacific Life, Qualcomm and Sempra Energy (Fortune, 2018)
  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)
  • Southern California produces more technology PhDs per year than any other region in the country and many of the higher educated students stay within Souther California contributing to readily available workforce skills making the area more attractive than Silicon Valley (BCG, 2018)
  • Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 2018)
  • Southern California has 58.7% labor force participation rate; within this area, Los Angeles metro has 62.3% labor force participation rate (USMayors.org, 2018)
  • The area has major technology nodes of excellence: Los Angeles (Media and entertainment); Pasadena (High-tech engineering, data analytics); Riverside (Agtech, transportation/ distribution); San Diego (Healthcare, biotech, wireless communications); Irvine (Medtech, cyber security); El Segundo (Aerospace and defense IT, space transport) [BCG, 2018]
  • Los Angeles has been awarded the 2028 Olympics under a funding commitment of $88 billion to upgrade the transportation infrastructure connecting disparate pockets of the metro area. This is expected to produce additional employment in the coming years. (BCG, 2018)
  • As part of Southern California area, Inland Empire market inherits all the benefits from the area.

PRICE & RENT TRENDS

Neighborhood: Rancho Fontana

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $148k584k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Rancho Fontana

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q211001200130014001500160017001800190020002100220023002400Rent in $10822496

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Hemlock Elementary School Primary Regular 434 17 4
Almeria Middle School Middle Regular 833 38 3
Summit High School High Regular 2,606 108 6

Hemlock Elementary School

  • Education Level: Primary
  • # of students: 434
  • # of teachers: 17
4
GreatSchools Rating

Almeria Middle School

  • Education Level: Middle
  • # of students: 833
  • # of teachers: 38
3
GreatSchools Rating

Summit High School

  • Education Level: High
  • # of students: 2,606
  • # of teachers: 108
6
GreatSchools Rating
 

$431,100$526,900$479,000

PURCHASE PRICE

$1,926$2,354$2,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,140
EXPENSES Loan Payment -$1,767
Property Tax -$508
Property Insurance -$66
Property Management Fees -$126
CASH FLOW
-$328

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.

$479,000

PROJECTED PRICE

$2,140

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 6.2%
Maintenance Year (1-5) 8.00%
Vacancy 5.35%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$132,685

INVESTMENT

$132,685

Down Payment
$119,750
Rehab Estimate
$5,750
Closing Costs
$7,185

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,767

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $119,750
Loan Amount $359,250
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$9,757

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $2,140

    LIST RENT
  • $1.32

    LIST RENT PER SQFT
  • $2,215

    COMP ESTIMATED VALUE
  • $1.37

    COMP AVG. RENT PER SQFT
Comps Range
$2,140
1$2,1402$2,1803$2,2954$2,3005$2,395
$2,395
RENT COMPS ANALYSIS
  • 7518 Plumaria Drive Fontana, CA 1
    • 3 beds 3 baths ∙ 1,617 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,617 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $2,140
    • $1.32
    •  
  • 7608 Plumaria Drive Fontana, CA 2
    • 3 beds 3 baths ∙ 1,617 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,617 Sqft ∙ Built 1989
    LEASED 10/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,180
    • $1.35
    •  
  • 7645 Sun Petal Court Fontana, CA 3
    • 3 beds 3 baths ∙ 1,617 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,617 Sqft ∙ Built 1989
    LEASED 10/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.42
    •  
  • 7634 Plumaria Drive Fontana, CA 4
    • 3 beds 3 baths ∙ 1,617 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,617 Sqft ∙ Built 1989
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.42
    •  
  • 7541 Mums Court Fontana, CA 5
    • 4 beds 3 baths ∙ 1,862 Sqft ∙ Built 1990 4 beds 3 baths ∙ 1,862 Sqft ∙ Built 1990
    LEASED 07/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $1.29
    •  
PROPERTY LISTING DETAILS
Niema Thomas
Redfin
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20227403
Last Updated: 10/30/2020
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